EQM Midstream Partners (NYSE:EQM) Downgraded by Zacks Investment Research

EQM Midstream Partners (NYSE:EQM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “EQT Midstream Partners, LP is formed to own, operate, acquire and develop midstream assets in the Appalachian Basin. The Company provides substantially all of its natural gas transmission, storage and gathering services under contracts with fixed reservation and/or usage fees. It operates primarily in the Marcellus Shale area of southern Pennsylvania and northern West Virginia. EQT Midstream Partners, LP is based in Pittsburgh, Pennsylvania. “

A number of other research firms have also recently issued reports on EQM. Royal Bank of Canada set a $42.00 target price on EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday. Stifel Nicolaus set a $46.00 target price on EQM Midstream Partners and gave the company a “hold” rating in a research note on Wednesday. Credit Suisse Group lowered their price target on EQM Midstream Partners from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Citigroup set a $52.00 price target on EQM Midstream Partners and gave the company a “buy” rating in a report on Monday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. EQM Midstream Partners presently has an average rating of “Hold” and an average target price of $48.92.

EQM stock traded down $0.60 during mid-day trading on Friday, reaching $36.60. The company had a trading volume of 558,432 shares, compared to its average volume of 637,986. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $7.72 billion, a PE ratio of 7.22 and a beta of 1.00. EQM Midstream Partners has a one year low of $36.06 and a one year high of $58.00. The business has a 50-day moving average price of $42.65.

Institutional investors and hedge funds have recently modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of EQM Midstream Partners during the first quarter valued at $46,000. Optimum Investment Advisors acquired a new position in shares of EQM Midstream Partners during the first quarter valued at $46,000. Lee Financial Co acquired a new position in shares of EQM Midstream Partners during the second quarter valued at $92,000. Advisor Group Inc. increased its holdings in shares of EQM Midstream Partners by 297.8% during the fourth quarter. Advisor Group Inc. now owns 3,103 shares of the pipeline company’s stock valued at $135,000 after purchasing an additional 2,323 shares during the period. Finally, Cerebellum GP LLC acquired a new position in shares of EQM Midstream Partners during the second quarter valued at $148,000. 38.14% of the stock is currently owned by institutional investors.

EQM Midstream Partners Company Profile

EQM Midstream Partners, LP owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. As of December 31, 2018, the company owned approximately 700 miles of high-pressure gathering lines and 1,500 miles of Federal Energy Regulatory Commission (FERC) regulated low-pressure gathering lines; approximately 950 miles of FERC regulated interstate pipelines; and approximately 160 miles of pipelines.

Featured Article: Book Value Of Equity Per Share – BVPS Explained

Get a free copy of the Zacks research report on EQM Midstream Partners (EQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for EQM Midstream Partners (NYSE:EQM)

Receive News & Ratings for EQM Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQM Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.